While private equity conditions are beginning to dethaw in Europe, a couple of big names have decided to hold off planned auctions. Blackstone was looking to sell French healthcare provider Groupe Vitalia, and Bridgepoint had hopes of unloading debt collection business 1st Credit Ltd., but neither were getting the bites they were hoping for. Both Vitalia and 1st Credit are in interesting sectors so good things should come to those who wait. Plus, in Europe everything from right before the August holidays gets a going over again in September, so as markets make it past the one year anniversary of the credit crunch these deals will be looked at again in the fall.
Patience is Hopefully a Virtue for Blackstone, Bridgepoint